Ms. Wennerstrom owns seven properties in southeast Toronto, two of them with partners. She bought her first house at 24 and has been flipping them since.
But Ms. Wennerstrom, who quit her job in sales and marketing at a frozen food company nine months ago, has perfected a more patient version of the flip. Like her quicker-paced counterparts, she buys rundown properties in up-and-coming neighbourhoods and oversees a renovation of two to four months.
But then, instead of selling immediately, she hires an appraiser to revalue the property, and she refinances it based on that higher value. To reduce her carrying costs, she converts from a higher-interest line of credit to a lower-rate mortgage.